Essex Announces its 27th Consecutive Annual Dividend Increase

Rhea-AI Summary

Essex Property Trust has announced a $0.05 increase to its annual cash dividend, marking the 27th consecutive annual increase. The first quarter dividend is set at $2.09 per share, payable on April 15, 2021, to shareholders of record by March 31, 2021, equating to an annualized distribution of $8.36 per share. Additionally, the virtual Annual Meeting of Shareholders is scheduled for May 11, 2021, at 1:00 p.m. PT, where shareholders of record by February 26, 2021, will be entitled to vote.

Positive

• 27th consecutive annual dividend increase reflects strong company performance.
• First quarter dividend of $2.09 per share supports shareholder income.

Negative

• None.

Essex Property Trust, Inc. (NYSE:ESS) announced today that its Board of Directors has approved a $0.05 per share increase to its annual cash dividend. This represents the 27^th consecutive annual dividend increase. The Board of Directors has declared a first quarter dividend of $2.09 per share, payable on April 15, 2021 to shareholders of record as of March 31, 2021. On an annualized basis, the dividend represents a distribution of $8.36 per common share.

The Annual Meeting of Shareholders will be held virtually on Tuesday, May 11, 2021 at 1:00 p.m. pacific time. Shareholders of record as of February 26, 2021 will be entitled to vote at the meeting. Further information regarding how to access and vote at the virtual Annual Meeting will be contained in the proxy materials to be filed with the U.S. Securities and Exchange Commission.

About Essex Property Trust, Inc.

Essex Property Trust, Inc. (“Essex”), an S&P 500 company, is a fully integrated real estate investment trust (“REIT”) that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets. Essex currently has ownership interests in 246 apartment communities with an additional 6 properties in various stages of active development. Additional information about Essex can be found on the Company’s website at www.essex.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210218005909/en/

FAQ

What is the new dividend amount for Essex Property Trust?

The new dividend amount is $2.09 per share for the first quarter of 2021.

When is the dividend payment date for Essex Property Trust?

The dividend will be paid on April 15, 2021.

How many consecutive annual dividend increases has Essex Property Trust achieved?

Essex Property Trust has achieved its 27th consecutive annual dividend increase.

When will the Annual Meeting of Shareholders take place?

The Annual Meeting of Shareholders will be held on May 11, 2021.

Who is eligible to vote at the Annual Meeting of Shareholders?

Shareholders of record as of February 26, 2021, are eligible to vote.